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September 10, 2025European Scientific Journal ESJOpen Access

Crisis, Recovery, and Regional Asymmetries: A Firm-Level Financial Analysis of Italian Food and Beverage SMEs

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Authors

MGM Garbelli

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Overview

This observational analysis reveals the financial challenges faced by SMEs during the pandemic, highlighting divergent recovery paths by region.

Key Points

  • Substantial contraction in profitability observed in 2020, particularly a 147% decline in ROE in northern firms, indicating severe impact.
  • Debt ratios exceeded 70% sector-wide during the crisis, reflecting high financial vulnerability, especially among small enterprises.
  • Cluster analysis distinguished typical SME trajectories, revealing asymmetrical recovery paths shaped by firm size and regional conditions.
  • Rising labor costs constrained operational efficiency, with an 8.3% increase by 2022, emphasizing the need for tailored policy approaches.

Cite This Study

M Garbelli (2025) studied this question.

synapsesocial.com/papers/68c23e94b210217d6479345chttps://doi.org/10.19044/esj.2025.v21n19p54
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